[ 2014-10-20 ]

Fuel prices reduced by 2%
The price of fuel has reduced by two per cent at
the pumps, the National Petroleum Authority has
announced.

The regulatory body said it took the decision
because prices of crude oil and petroleum products
have dropped on the world market.

Crude oil prices on the world market have declined
from an average of $109 per barrel in January,
this year to $81.14.

A statement from the NPA said the reduction will
take effect from October 21, 2014.

The Authority said Oil Marketing Companies must
comply with the price reductions.

Prior to the NPA’s announcement, the Minister of
Energy and Petroleum, Emmanuel Armah-Kofi Buah,
had said government would not immediately reduce
prices of petroleum products, despite a drop in
the price of crude oil on the world market.

“The reduction in the price of oil and the
appreciation of the Cedi are transitional trends,
which we cannot just rely on to make decisions,"
the minister said.

Source - Starrfmonline

... go Back